2024 Inflation Rate Singapore Forecast. For 2024, mas expects overall inflation to average 3 to 4 per cent, while core inflation is expected to average 2.5 to 3.5 per cent. The median forecast for headline inflation for 2024 was 2.6%, down from 2.8% in the previous june survey.
For the year as a whole, the central bank projected that core inflation will average 2.5 per cent to 3 per cent in 2024, down from 4.2 per cent in 2023. Workers in singapore are expected to receive a salary increase of 4.0% in nominal terms in 2024, consistent with the rate in 2023.